Common use of Limited Authorization Clause in Contracts

Limited Authorization. The authorization granted in this Agreement will not be effective with respect to any BGA until the BGA's Brokerage General Agent Agreement has been amended to include Variable Company Products, and your authority to distribute Variable Company Products jointly with any BGA will terminate at any time that (1) the BGA's Brokerage General Agent Agreement is terminated, (2) the BGA is no longer authorized to distribute Variable Company Products thereunder or (3) the Distributor gives notice that the BGA is in default under its Brokerage General Agent Agreement (unless the Distributor has subsequently given written notice to you that the default has been cured).

Appears in 1 contract

Sources: Wholesale Broker Dealer Supervisory and Sales Agreement (Separate Acct No 49 of the Equit Life Assu Soci of the U S)

Limited Authorization. The authorization granted in this Agreement will not be effective with respect to any BGA until the BGA's ’s Brokerage General Agent Agreement has been amended to include Variable Company Products, and your authority to distribute Variable Company Products jointly with any BGA will terminate at any time that (1) the BGA's ’s Brokerage General Agent Agreement is terminated, (2) the BGA is no longer authorized to distribute Variable Company Products thereunder or (3) the Distributor gives notice that the BGA is in default under its Brokerage General Agent Agreement (unless the Distributor has subsequently given written notice to you that the default has been cured).

Appears in 1 contract

Sources: Wholesale Broker Dealer Supervisory and Sales Agreement (Equitable Financial Life Insurance Co of America)